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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL OPTIONS
The second month Brent 25 delta call-put skew has recovered from a low of -10.26% yesterday back to -6.0% as the futures market has regained ground. The skew is back to the levels seen last week but still well below levels around -2% from the start of March. The second month WTI skew is back up from -10.4% to -7.2%.
- The Brent Dec23 skew is up from a low of -6.1% to -5.5% and WTI is up from -7.1% to -6.6% with concern for the impact of the current financial turmoil of global oil demand balanced against China demand optimism. Uncertainty remains over Russian output following plans announced today to extend the 500kbpd production cut until July. Any changes to future OPEC policy and US plans to replenish strategic reserves could also impact the supply demand balance.
- Second month implied volatility has drifted back down today to 45.1% for Brent and 46.3% for WTI.
- Brent MAY 23 up 0.9% at 74.45$/bbl
- WTI MAY 23 up 1.2% at 68.61$/bbl
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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